Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
The WB Directorate of Commercial Taxes has clarified that late fee under s.47(2) of WBGST Act applies to delayed filing of complete annual returns, which includes both GSTR-9 and GSTR-9C (where required for taxpayers exceeding specified turnover thresholds). Late fee is calculated from the due date until the complete return is furnished. For taxpayers required to file GSTR-9C, the annual return is considered incomplete until both forms are submitted. Through Notification No. 312-F.T., late fee for financial years up to FY 2022-23 has been waived beyond what was payable up to the GSTR-9 filing date, provided GSTR-9C is submitted by March 31, 2025. No refunds will be processed for late fees already paid.
The WB Directorate of Commercial Taxes has clarified that late fee under s.47(2) of WBGST Act applies to delayed filing of complete annual returns, which includes both GSTR-9 and GSTR-9C (where required for taxpayers exceeding specified turnover thresholds). Late fee is calculated from the due date until the complete return is furnished. For taxpayers required to file GSTR-9C, the annual return is considered incomplete until both forms are submitted. Through Notification No. 312-F.T., late fee for financial years up to FY 2022-23 has been waived beyond what was payable up to the GSTR-9 filing date, provided GSTR-9C is submitted by March 31, 2025. No refunds will be processed for late fees already paid.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
